Korean cosmetics company Amorepacific plans to accelerate its growth in China to help achieve its goal of $2.9 billion sales by 2020.

Amorepacific is currently building a Shanghai Value Centre to serve as a manufacturing facility, R&D centre and logistics hub.

Having started business in China in 1993, Amorepacific operates brands such as Laneige, Mamonde, Sulwhasoo and innisfree. Its Laneige brand is available through around 300 department store counters in 100 Chinese cities.

Introduced in 2005, Mamonde has 884 department store counters and 2590 retail outlets in 275 cities.

Meanwhile, Sulwhasoo has sales counters in 27 high-end department stores having opened its first at Beijing’s Parkson in 2011.

The latest to be introduced, innisfree opened its first flagship store in Shanghai last year. The brand plans to open another 50 stores this year.

“China is a central market to Amorepacific’s global business and we are making ceaseless efforts to diversify our distribution channels and strengthen our marketing activities in order to fulfill our vision of becoming Asia’s number 1 beauty company,” said chairman and CEO Suh Kyung-bae.